The partnership’s core objective is for making the profitable payments more seamless, protected as well as more appropriate.
The UAEs biggest bank the First Abu Dhabi Bank (FAB), as well as one of the global biggest as well as secured financial establishments, have come together as they have signed and entered a five-years strategic partnership deal alongside the global FinTech payments pioneer Mastercard for enabling commercial cards as well as the payment solutions. Altogether, their primary aim is for simplification of business-to-business (B2B) payments for establishments in the UAE, creating them more seamless, protected and suitable.
Under this partnership, clients can take advantage from Mastercard’s In Control solution, a special module that benefits large corporates to modernize their card payments and augment their cashflow, while safeguarding the most advanced security. Along with all-inclusive and cultured reporting capabilities, the service offers trades better admittance to data and analytics.
Mastercard’s marketable cards and payment platforms will be made accessible to FAB patrons, along with an all-embracing range of merchandize benefits addressing the requirements of trades and their workforces.
Ramana Kumar, EVP and Head of Payments and Digital, PBG, FAB stated that: “Commercial payments is an increasing area of focus for FAB, and we are constantly working towards developing advanced solutions that enable our customers to make payments digitally, in a safe and secure manner. As we continue to build on our position in the payments space, our partnership with Mastercard allows us to serve businesses through their leading digital solutions. This move is a testament to our commitment to support both our customers and wider economic recovery.”
FAB will also unveil the Mastercard Purchase Card, which will offer smart data and virtual card competences empowering commercial and government payments. The bank will additionally offer a range of Mastercard Travel and Entertainment Cards that permit corporates to authorize their workforces to make business-related disbursements in a safe and rewarding manner.
Girish Nanda, Country Manager, UAE & Pakistan, Mastercard stated that: “First Abu Dhabi Bank has long been a strategic partner of Mastercard in the UAE. Today, we mark a new milestone in this relationship as we expand our solutions and commitment to UAE businesses, supporting them in their digital transformation journeys. The COVID-19 pandemic has changed the way business is done across all sectors, and B2B payments are ripe for modernization and enhanced efficiencies. This partnership will address the challenges that traditional channels pose for UAE businesses by making corporate payments simpler, more secure and convenient.”